Bridge Investment Group (NYSE:BRDG) Stock Price Down 0.7% - Here's What Happened

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report)'s share price was down 0.7% during trading on Monday . The stock traded as low as $9.98 and last traded at $10.02. Approximately 410,145 shares traded hands during trading, an increase of 47% from the average daily volume of 278,836 shares. The stock had previously closed at $10.09.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their target price on Bridge Investment Group from $10.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Bridge Investment Group has an average rating of "Hold" and a consensus price target of $10.70.

Bridge Investment Group Stock Performance

The company's 50-day moving average is $9.51 and its two-hundred day moving average is $8.96. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.24 billion, a P/E ratio of -19.27 and a beta of 1.40.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.08). The company had revenue of $71.80 million for the quarter, compared to the consensus estimate of $77.60 million. Bridge Investment Group had a negative net margin of 3.45% and a positive return on equity of 10.07%. Equities analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Institutional Trading of Bridge Investment Group

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Bridge Investment Group by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company's stock valued at $29,242,000 after acquiring an additional 208,022 shares during the period. Franklin Resources Inc. increased its stake in shares of Bridge Investment Group by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company's stock worth $10,879,000 after purchasing an additional 8,218 shares in the last quarter. Royce & Associates LP raised its position in shares of Bridge Investment Group by 29.3% in the fourth quarter. Royce & Associates LP now owns 999,626 shares of the company's stock valued at $8,397,000 after purchasing an additional 226,396 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Bridge Investment Group by 17.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company's stock valued at $8,098,000 after buying an additional 141,178 shares in the last quarter. Finally, DigitalBridge Group Inc. raised its holdings in Bridge Investment Group by 24.4% during the 4th quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company's stock valued at $4,267,000 after acquiring an additional 99,520 shares during the period. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Company Profile

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.

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